Live Insurance News

Uber liabilities means the rideshare company “depends heavily” on insurance coverage

April 17, 2019April 16, 2019 Nordstrom

The firm is on its way to its initial public offering and would not have reached this place without policies. Uber liabilities are widespread due to the very nature and size of the company. As it comes closer to its initial public offering (I.P.O.), many are recognizing that insurance coverage was integral to its success. The rideshare company is seeking to raise $10 billion along the way to its initial public offering. Uber Technologies Inc. openly acknowledges that it wouldn’t have been possible for it to reach this point without…

Legislation targets auto insurance and ride share services in Florida

December 9, 2015December 8, 2015 Marc

New legislation will place auto insurance requirements on ride share companies New legislation in Florida could affect the way ride-share companies receive auto insurance. Companies like Uber and Lyft, which providing transportation services with the aid of mobile apps, have been at the heart of debate concerning issues in the auto insurance sector. These companies typically meet the minimum requirements but are not technically required to do so because of the way they operate. The new legislation would codify existing standards, ensuring that companies like Uber and Lyft are required…

Allstate auto insurance to cover rideshare drivers

June 9, 2015June 6, 2015 Julie Campbell

People who are driving with the use of app based services like Uber will now have the insurer’s coverage available. Allstate auto insurance offerings will now be including coverage for drivers who will be using apps such as Uber and Lyft in order to pick up ride sharing passengers in order to earn an income. The auto insurance coverage will come with an average premium of between $15 and $20 per year. The announcement about the new type of Allstate auto insurance policy also explained that the goal of the…

Legislation in Georgia increases auto insurance requirements for ride-share firms

April 7, 2015April 5, 2015 Logan B.

Legislation requires ride-share companies to improve their auto insurance policies New legislation in Georgia will require ride-sharing services Uber and Lyft to increase their auto insurance coverage. The legislation, called House Bill 190, won the approval of the state’s House of Representatives and is currently awaiting the signature of Governor Nathan Deal before it can be enacted. Ride-share companies have become a hot topic in the insurance space, as well as in the transportation services industry. These companies offer inexpensive transportation, but there have been concerns that the auto insurance…

Uber continues to tackle auto insurance challenge

April 1, 2015March 30, 2015 Marc

Uber is at the heart of controversy involving auto insurance coverage Uber is the subject of new auto insurance regulations that may go into effect in the United States, of which it is opposed to. The ride-share company notes that one of its greatest challenges is ensuring that its drivers have the appropriate level of insurance coverage. In recent years, ride-share companies have been criticized for the insurance policies they offer to their drivers, they have also generated some controversy in several states, especially among taxi operators who claim that…

Auto insurance limit increase sought in NJ for Lyft and Uber

February 12, 2015February 11, 2015 Julie Campbell

Rideshare companies and their coverage limits were the focus of a bill that has been discussed in New Jersey. Lawmakers in New Jersey have been discussing an auto insurance bill, this week, that has been focused on increasing the coverage limits that will be required of ridesharing services in the state, such as Lyft and Uber. At the start of the week, a spokesperson from Uber said that its reps would be present in order to testify. Those Uber representatives spoke before the New Jersey Senate Transportation Committee. The bill…

Rideshare auto insurance struggles in France could end with 2015 Uber ban

December 26, 2014December 23, 2014 Julie Campbell

The country has now stated that it intends to end the availability of the service next year. The popular low cost rideshare service, Uber, has been facing a number of problems in terms of the details of its legalities, particularly when it comes to the auto insurance requirements, and France has now made a decision to put an end to all of it by simply banning the company from operating within the country. The French government made the announcement that the ban on Uber’s service would begin on January 1,…